Frank E Duckwall Foundation — Form 990PF, tax year 2023

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Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023
Name of foundation
Frank E Duckwall Foundation
 
Number and street (or P.O. box number if mail is not delivered to street address)PO Box 3351
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Tampa, FL33601
A Employer identification number

59-6773462
B Telephone number (see instructions)

(813) 634-4172
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ...
right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$7,808,823
J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books
(b) Net investment
income
(c) Adjusted net
income
(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments 20,446 20,446  
4 Dividends and interest from securities... 181,727 181,727  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 229,051
b Gross sales price for all assets on line 6a 1,379,530
7 Capital gain net income (from Part IV, line 2)... 229,051
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule).......      
12 Total. Add lines 1 through 11........ 431,224 431,224  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 48,000 24,000   24,000
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule)......... 122      
b Accounting fees (attach schedule)....... 7,375      
c Other professional fees (attach schedule).... 48,271 48,271    
17 Interest...............        
18 Taxes (attach schedule) (see instructions)...        
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 172     172
22 Printing and publications..........        
23 Other expenses (attach schedule)....... 15,824     15,824
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 119,764 72,271   39,996
25 Contributions, gifts, grants paid....... 378,295 378,295
26 Total expenses and disbursements. Add lines 24 and 25 498,059 72,271   418,291
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -66,835
b Net investment income (if negative, enter -0-) 358,953
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)
Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 347,832 133,150 133,150
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow  
Less: allowance for doubtful accounts right arrow        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)....... 4,892,778 Click to see attachment
List of Attached Documents:
// Content
4,454,360
5,648,533
c Investments—corporate bonds (attach schedule)....... 1,515,434 Click to see attachment
List of Attached Documents:
// Content
2,102,817
2,022,640
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule)..........      
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
4,500
Click to see attachment
List of Attached Documents:
// Content
4,500
Click to see attachment
List of Attached Documents:
// Content
4,500
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 6,760,544 6,694,827 7,808,823
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow)   Click to see attachment
List of Attached Documents:
// Content
1,966
23 Total liabilities (add lines 17 through 22).........   1,966
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 6,760,544 6,692,861
29 Total net assets or fund balances (see instructions)..... 6,760,544 6,692,861
30 Total liabilities and net assets/fund balances (see instructions). 6,760,544 6,694,827
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
6,760,544
2
Enter amount from Part I, line 27a .....................
2
-66,835
3
Other increases not included in line 2 (itemize) right arrow
3
 
4
Add lines 1, 2, and 3 ..........................
4
6,693,709
5
Decreases not included in line 2 (itemize) right arrowClick to see attachment
List of Attached Documents:
// Content
5
848
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
6,692,861
Form 990-PF (2023)
Form 990-PF (2023)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)
(b)
How acquired
P—Purchase
D—Donation
(c)
Date acquired
(mo., day, yr.)
(d)
Date sold
(mo., day, yr.)
1 a 600 Shs Aflac Inc P 2020-12-02 2023-10-12
b 220 Shs Abbvie Inc P 2021-10-18 2023-10-12
c 100 Shs Amgen Inc P 2022-04-13 2023-10-12
d 474 Shs Bank of New York Mellon Corp P 2021-03-03 2023-12-04
e 450 Shs Chevron Corp P 2020-02-25 2023-10-12
500 Shs Cisco Systems Inc P 2020-07-20 2023-10-12
982 Shs ConocoPhillips P 2021-07-14 2023-12-31
725 Shs Digital Realty Trust Inc P 2022-04-13 2023-09-12
108 Shs Duke Energy Corp P 2021-02-10 2023-12-04
125 Shs General Dynamics Corp P 2020-05-13 2023-10-12
50,000 Shs Goldman Sachs Group Inc P 2021-06-14 2023-12-05
40 Shs Home Depot Inc P 2018-03-28 2023-10-12
50,000 Shs IBM Corp P 2019-10-16 2023-12-05
355 Shs JPMorgan Chase & Co P 2018-02-26 2023-10-12
200 Shs Johnson & Johnson P 2019-01-14 2023-10-12
168 Shs McDonald's Corp P 2018-05-08 2023-12-31
350 Shs Merck & Co Inc. P 2018-06-05 2023-10-12
232 Shs Microsoft Corp P 2013-08-06 2023-12-31
50,000 Shs Oracle Corp P 2019-05-29 2023-12-05
193 Shs Paychex Inc P 2001-01-01 2023-12-04
175 Shs PepsiCo Inc P 2001-01-01 2023-10-12
168 Shs Procter & Gamble Co P 2020-04-13 2023-12-04
351 Shs Realty Income Corp P 2020-04-13 2023-12-04
750 Shs JM Smucker Co P 2001-01-01 2023-12-04
450 Shs Target Corp P 2022-04-13 2023-12-04
80 Shs Texas Instruments Inc P 2020-06-03 2023-06-28
950 Shs 3M Co P 2001-01-01 2023-02-08
25,000 Shs Toyota Motor Credit Corp P 2021-06-02 2023-12-05
100 Shs Union Pacific Corp P 2019-02-13 2023-10-12
50 Shs UnitedHealth Group Inc P 2020-12-02 2023-10-12
200 Shs Waste Management Inc P 2018-07-17 2023-10-12
50 Shs Accenture Plc - Cl A P 2020-05-13 2023-10-12
Capital Gain Dividends P 2023-01-01 2023-12-31
Capital Gain Dividends Section 1250 P 2023-01-01 2023-12-31
(e)
Gross sales price
(f)
Depreciation allowed
(or allowable)
(g)
Cost or other basis
plus expense of sale
(h)
Gain or (loss)
(e) plus (f) minus (g)
a 47,993   27,133 20,860
b 32,581   23,730 8,851
c 28,390   25,286 3,104
d 23,120   21,336 1,784
e 73,351   45,957 27,394
27,003   23,374 3,629
117,650   57,744 59,906
95,360   106,585 -11,225
10,020   10,087 -67
29,848   16,355 13,493
48,143   49,882 -1,739
11,901   7,074 4,827
49,410   50,179 -769
51,929   41,992 9,937
31,177   25,666 5,511
48,381   27,679 20,702
36,225   20,537 15,688
81,532   7,302 74,230
49,093   50,178 -1,085
23,835   5,390 18,445
28,448   8,751 19,697
25,562   19,270 6,292
19,467   17,653 1,814
84,190   89,009 -4,819
60,525   105,284 -44,759
14,024   10,187 3,837
110,132   171,462 -61,330
24,218   25,310 -1,092
20,993   16,844 4,149
26,216   17,425 8,791
31,393   16,742 14,651
15,582   9,076 6,506
1,446     1,446
392     392
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69
(j)
Adjusted basis
as of 12/31/69
(k)
Excess of col. (i)
over col. (j), if any
a       20,860
b       8,851
c       3,104
d       1,784
e       27,394
      3,629
      59,906
      -11,225
      -67
      13,493
      -1,739
      4,827
      -769
      9,937
      5,511
      20,702
      15,688
      74,230
      -1,085
      18,445
      19,697
      6,292
      1,814
      -4,819
      -44,759
      3,837
      -61,330
      -1,092
      4,149
      8,791
      14,651
      6,506
      1,446
      392
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7
Bracket 2 229,051
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ...................
Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 4,989
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2........................... 3 4,989
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 4,989
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 4,301
b Exempt foreign organizations—tax withheld at source...... 6b  
c Tax paid with application for extension of time to file (Form 8868)... 6c  
d Backup withholding erroneously withheld .......... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7 4,301
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9 688
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10  
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow0 Refundedright arrow 11  
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$   (2) On foundation managers.right arrow$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowFL
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowN/A
14
The books are in care ofright arrowSandra Tolle Telephone no.right arrow (813) 634-4172

Located atright arrow2914 Ponderosa TrailWimaumaFL ZIP+4right arrow335987519
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
 
No
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
 
No
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2023? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2023 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2023.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
 
No
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
 
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position
(c) Compensation
(If not paid, enter
-0-)
(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
Frank J Rief III Trustee
1.00
20,000    
2611 Bayshore Blvd 907
Tampa,FL336297433
G Lowe Morrison Trustee
1.00
20,000    
1807 Moccasin Hollow Road
Sarasota,FL34240
Sandra E Tolle Trustee
1.00
8,000    
2914 Ponderosa Trail
Wimauma,FL33598
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position
(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation
(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow  
Form 990-PF (2023)
Form 990-PF (2023)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
NONE
Total number of others receiving over $50,000 for professional services.............right arrow  
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow  
Form 990-PF (2023)
Form 990-PF (2023)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
7,341,084
b
Average of monthly cash balances.......................
1b
279,724
c
Fair market value of all other assets (see instructions)................
1c
0
d
Total (add lines 1a, b, and c).........................
1d
7,620,808
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
 
3
Subtract line 2 from line 1d.........................
3
7,620,808
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
114,312
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
7,506,496
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
375,325
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
375,325
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
4,989
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
4,989
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
370,336
4
Recoveries of amounts treated as qualifying distributions................
4
 
5
Add lines 3 and 4............................
5
370,336
6
Deduction from distributable amount (see instructions).................
6
 
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
370,336
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
418,291
b
Program-related investments—total from Part VIII-B..................
1b
 
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
418,291
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus
(b)
Years prior to 2022
(c)
2022
(d)
2023
1 Distributable amount for 2023 from Part X, line 7 370,336
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only.......  
b Total for prior years:20 , 20, 20  
3 Excess distributions carryover, if any, to 2022:
a From 2018...... 67,357
b From 2019...... 27,074
c From 2020...... 68,196
d From 2021...... 26,092
e From 2022...... 33,275
f Total of lines 3a through e ........ 221,994
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 418,291
a Applied to 2022, but not more than line 2a  
b Applied to undistributed income of prior years
(Election required—see instructions).....
 
c Treated as distributions out of corpus (Election
required—see instructions)........
0
d Applied to 2023 distributable amount..... 370,336
e Remaining amount distributed out of corpus 47,955
5 Excess distributions carryover applied to 2023.    
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 269,949
b Prior years’ undistributed income. Subtract
line 4b from line 2b ..........
 
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed......
 
d Subtract line 6c from line 6b. Taxable amount
—see instructions ...........
 
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions .............
 
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 ..........
0
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) .......
 
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ...
67,357
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ......
202,592
10 Analysis of line 9:
a Excess from 2019.... 27,074
b Excess from 2020.... 68,196
c Excess from 2021.... 26,092
d Excess from 2022.... 33,275
e Excess from 2023.... 47,955
Form 990-PF (2023)
Form 990-PF (2023)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2023, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed ..........
Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed .....
         
d Amounts included in line 2c not used directly
for active conduct of exempt activities ..........
         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c ....
         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)
         
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed ..
         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) ....
         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii)....
         
(3) Largest amount of support
from an exempt organization
         
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or e-mail address of the person to whom applications should be addressed:
Sandra Tolle
PO Box 3351
Tampa,FL336013351
(813) 634-4172
bThe form in which applications should be submitted and information and materials they should include:
Application explaining need and intended use
cAny submission deadlines:
None
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Charitable, Medical, Cultural, Educational, Literacy & Scientific Purposes in the Tampa Bay, Florida area
Form 990-PF (2023)
Form 990-PF (2023)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
Foundation
status of
recipient
Purpose of grant or
contribution
Amount
Name and address (home or business)
aPaid during the year

The Chiselers Inc

PO Box 18633
Tampa,FL33679
N/A Pub Char Funding to support the Chiselers Minaret Market Mixer to be held on March 10th, 2023. 2,280

H Lee Moffitt Cancer Center

12902 Magnolia Drive
Tampa,FL33612
N/A Pub Char Funding for the SPARK Program. 25,000

Tampa Bay Watch

3000 Pinellas Bayway South
Tierra Verde,FL33715
N/A Pub char Funding for the Ed Alber Tarpon Rodeo to be held June 16th & 17th, 2023. 5,000

St Josephs Hospitals Foundation

2700 W Dr MLK Jr Blvd Ste 310
Tampa,FL33607
N/A Pub Char Sponsorship of Golf Classic. 3,960

Society of St Andrew

PO Box 536842
Orlando,FL32853
N/A Pub Char Funding to be used to distribute fresh fruits and vegetables to people in need. 5,000

University of Tampa

401 W Kennedy Blvd Box H
Tampa,FL33606
N/A Pub char Funding for the James M. Kelly Memorial Endowed Scholarship Fund. 10,000
Tampa Bay Watch


3000 Pinellas Bayway South
Tierra Verde,FL33715
N/A Pub Char Funding to enhance security and safety improvements to the buildings and grounds. 8,400
Eckerd College


4200 54th Avenue South
St Petersburg,FL33711
N/A Pub Char Funding for two new construction projects designed to enhance athletics and recreation on the water's edge campus. 20,000
Marie Selby Botanical Gardens


1534 Mound St
Sarasota,FL34236
N/A Pub Char First Installment for finish line capping challenge grant. 50,000
The Dali Museum


One Dali Blvd
St Petersburg,FL33701
N/A Pub Char Challenge grant. 50,000

Florida Museum of Photographic Arts

630 E 7th Avenue
Tampa,FL33605
N/A Pub Char Funding for general use. 5,000

Community Foundation of Tampa Bay Inc

4300 Cypress Street Ste 700
Tampa,FL33607
N/A Pub Char Funding for the Solutions Journalism Fund to be used for stories on philanthropy in the Tampa Bay area. 12,000

Chapters Health System

12470 Telecom Drive Ste 300
Temple Terrace,FL33637
N/A Pub Char Funding for Lifepath Hospice care in Hillsborough County. 3,000

Mote Marine Laboratory

1600 Ken Thompson Parkway
Sarasota,FL34236
N/A Pub Char Third installment for challenge grant. 50,000

The Poynter Institute

801 Third Street South
St Petersburg,FL33701
N/A Pub Char Funding for sponsorship of the Bowtie Ball. 15,000

National Society of The Colonial Dames

3006 West Hawthorne Rd
Tampa,FL33611
N/A Pub Char Funding to be used for the Frederick Douglass reenactor at the Tampa Theatre. 4,000
Education Foundation of Sarasota Co


1960 Landings Blvd Ste 120
Sarasota,FL34231
N/A Pub Char Funding to be used to purchase furniture and paint for the Student Success Center at Sarasota Military Academy. 5,000
The Helen Gordon Davis Centre for W


305 S Hyde Park Avenue
Tampa,FL33606
N/A Pub Char Funding to be used to purchase materials to replace the decking on the front porch. 5,000
Tampa Bay Wave


501 E Kennedy Blvd Suite 650
Tampa,FL33602
N/A Pub Char Funding to be used to purchase additional security features, glass white boards, broken monitor, pull up video screen, and sound deadening panels. 3,800
Tampa Regional Artists


705 W Swann Avenue
Tampa,FL33606
N/A Pub Char Funding to be used for the Dream Walls Mural project. 2,500
University of South Florida Foundat


4202 E Fowler Avenue ALC 100
Tampa,FL33620
N/A Pub Char Funding to be used to digitize the George Skip Gandy Collection at USF and to assist with pre-construction expenses for the School of Music's Digital Production Studio at the College of the Arts. 8,050
Hyde Park United Methodist Church


1001 N Florida Avenue
Tampa,FL33602
N/A Pub Char Funding to purchase furniture and office equipment for the remodeling of The Portico. 10,000
Art Center Manatee


209 9th Street W
Bradenton,FL34205
N/A Pub Char Third installment for challenge grant. 20,000
Henry B Plant Museum


401 West Kennedy Blvd
Tampa,FL33606
N/A Pub Char Funding to be used for the upcoming exhibit "Captain's Log: Voyages in the Age of Steam" to be helf September 8th through December 23, 2023. 3,000
Gasparilla Music Foundation Inc


Post Office Box 172986
Tampa,FL33672
N/A Pub Char Funding to be used for capital expenditures to increase the efficiency and reach of the Recycled Tunes program. 5,000
Take Stock in Children of Sarasota


PO Box 48186
Sarasota,FL34230
N/A Pub Char Funding to purchase laptop computers for 20 students. 10,000

A Kids Place of Tampa Bay Inc

1715 Lithia Pinecrest Road
Brandon,FL33511
N/A Pub Char Funding to purchase security equipment. 7,500

Cafe Con Tampa Inc

2905 Bayshore Blvd Ste 200
Tampa,FL33629
N/A Pub Char Funding to purchase audio equipment. 1,305

Friends of Tampa Union Station

1317 Edgewater Drive PMB 3549
Orlando,FL32804
N/A Pub Char Funding to be used for creating an exhibit on historic Union Station. 7,500

Hermitage Artist Retreat

6630 Manasota Key Road
Englewood,FL34223
N/A Pub Char Funds to be used to create an outdoor kitchen. 10,000

Tampa Realistic Artists

705 W Swann Avenue
Tampa,FL33606
N/A Pub Char Sponsorship for the Doodads Repurposed Sculpture Competition. 2,000
The Zimmerman School at USF


4202 E Fowler Avenue
Tampa,FL33620
N/A Pub Char Funding to be used to purchase two 16 inch MacBook Pros and 10 external hard drives. 9,000
Total .................................right arrow 3a 378,295
bApproved for future payment
Total ................................. right arrow 3b  
Form 990-PF (2023)
Form 990-PF (2023)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code
(b)
Amount
(c)
Exclusion code
(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ...........
    14 20,446  
4 Dividends and interest from securities ....     14 181,727  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....          
8 Gain or (loss) from sales of assets other than
inventory ............
    18 229,051  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue: a
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) ..   431,224  
13Total. Add line 12, columns (b), (d), and (e)..................
13
431,224
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow
Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2023)
Form 990-PF (2023)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow
PTIN
Firm's name SmallBullet
Firm's EIN SmallBullet
Firm's address SmallBullet


Phone no.
Form 990-PF (2023)
Additional Data


Software ID: 23017517
Software Version: 2023v5.0


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 AccountingFeesSchedule
Name:
Frank E Duckwall Foundation
EIN:
59-6773462
Software ID:
23017517
Software Version:
2023v5.0
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Accounting Fees 7,375 0 0 0

TY 2023 InvestmentsCorpBondsSchedule
Name:
Frank E Duckwall Foundation
EIN:
59-6773462
Software ID:
23017517
Software Version:
2023v5.0
Name of Bond End of Year Book Value End of Year Fair Market Value
Blackrock Inc Mtn Dtd 51,783 44,724
Bank of America Corp FR DTD 50,364 48,675
International Business Machines 104,167 107,219
Microsoft Corp Nt Dtd 12/06/2013 52,163 48,804
Ralph Lauren Corp Dtd 08/09/2018 50,753 48,962
Unilever Capital Corporation Dtd 104,509 97,805
United Parcel Service Dtd 51,250 47,915
Wells Fargo & Co Sr Nt Dtd 50,554 47,489
Oracle Corp Sr Nt DTD 07/08/2014    
Visa Inc Dtd 105,231 95,252
Apple Inc Dtd 11/13/2027 106,102 95,963
Archer Daniels Midland Co 26,740 23,386
Comcast Corp Dtd 08/07/2017 53,595 47,659
Exxon Mobil Corp Sr Glbl 203,012 196,096
Goldman Sachs Group Inc Dtd 06/17/2021    
Intel Corp Dtd 11/21/2019 104,298 90,007
Public Storage Dtd 04/23/2021 101,226 89,902
Texas Instruments Inc Dtd 11/03/2017 52,916 47,733
3M Co Dtd 03/27/2020 107,687 90,282
Toyota motor Cred Dtd 10/7/2019    
U S Bancorp Dtd 07/29/2019    
Honeywell International 76,444 78,458
Lockheed Martin Corp 98,605 103,271
Marsh & McLennan Cos Inc 97,950 107,713
Morgan Stanley Variable 98,282 107,830
Pfizer Investment Enter 197,136 201,657
Union Pacific Corp Dtd 105,344 110,610
US Bancorp Dtd 52,706 45,228

TY 2023 InvestmentsCorpStockSchedule
Name:
Frank E Duckwall Foundation
EIN:
59-6773462
Software ID:
23017517
Software Version:
2023v5.0
Name of Stock End of Year Book Value End of Year Fair Market Value
Microsoft Corp 22,760 147,782
Paychex Inc 27,129 93,144
Pepsico Inc 58,234 140,118
United Parcel Service 58,355 102,200
Cisco Systems Inc 129,555 139,940
Pfizer Inc 109,209 97,166
Medtronic plc Shs 132,104 125,630
Verizon Communications Inc 138,892 110,159
Home Depot Inc 90,784 168,077
McDonald's Corp 86,303 150,331
AFLAC INC 51,370 92,813
JPMorgan Chase & Co Com 98,202 156,492
Merck & Co Inc 79,367 141,726
Waste Management Inc 76,699 158,862
Prologis Inc 83,751 168,091
Nextera Energy Inc 69,104 86,129
US Bancorp 144,373 124,430
Johnson & Johnson 115,518 134,796
Union Pacific Corp 78,509 112,985
Mid-America Apartment Communities Inc 79,603 84,038
Coca-Cola Co 98,563 111,967
Procter & Gamble Co 78,137 93,346
Smucker J M Co    
Chevron Corp Com 63,431 108,141
Nasdaq Inc Com 78,754 104,361
Unitedhealth Group Inc 60,989 92,132
General Dynamics Corp 50,992 97,376
3M Co    
Texas Instruments Inc 132,508 173,869
Accenture PLC A 61,885 114,046
Air Products & Chemicals Inc 103,888 102,675
Realty Income Corp 90,929 100,428
Xcel Energy Inc 99,975 95,961
Best Buy 92,385 62,624
Conocophillips 49,571 97,847
Bank of New York Mellon Corp 134,006 154,901
Blackrock Inc 90,913 101,475
Vanguard Information Technology ETF 393,323 428,340
Vanguard Communication Srvcs 165,689 155,985
Duke Energy Corp 97,132 101,116
Abbvie Inc Com 65,257 93,757
Target Corp    
Amgen Inc 82,181 93,607
Digital Realty Trust Inc    
Consumer Discret Select Sector Spdrr 270,371 253,910
Fastenal Co 100,230 118,853
General Mills Inc 75,022 75,237
PNC Financial Services Group Inc 113,717 108,395
Southern Co 74,691 73,275

TY 2023 LegalFeesSchedule
Name:
Frank E Duckwall Foundation
EIN:
59-6773462
Software ID:
23017517
Software Version:
2023v5.0
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Legal Fees 122 0 0 0


TY 2023 OtherAssetsSchedule
Name:
Frank E Duckwall Foundation
EIN:
59-6773462
Software ID:
23017517
Software Version:
2023v5.0
Description Beginning of Year - Book Value End of Year - Book Value End of Year - Fair Market Value
Artwork -Mann Wagnon Memorial Park on th 4,500 4,500 4,500


TY 2023 OtherDecreasesSchedule
Name:
Frank E Duckwall Foundation
EIN:
59-6773462
Software ID:
23017517
Software Version:
2023v5.0
Description Amount
Book/Tax Differences 848


TY 2023 OtherExpensesSchedule
Name:
Frank E Duckwall Foundation
EIN:
59-6773462
Software ID:
23017517
Software Version:
2023v5.0
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Administrative Expenses 14,674     14,674
Dues 1,150     1,150


TY 2023 OtherLiabilitiesSchedule
Name:
Frank E Duckwall Foundation
EIN:
59-6773462
Software ID:
23017517
Software Version:
2023v5.0
Description Beginning of Year - Book Value End of Year - Book Value
SET Services - Liability   1,966


TY 2023 OtherProfessionalFeesSchedule
Name:
Frank E Duckwall Foundation
EIN:
59-6773462
Software ID:
23017517
Software Version:
2023v5.0
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
Investment Mgmt Fees 48,271 48,271 0 0